A Brief look at Globalization

2 Globalisation is the process by which the world is becoming increasingly interconnected as a result of massively increased trade and cultural exchange. Globalisation has increased the production of goods and services. The biggest companies are no longer national firms but multinational corporations with

Globalisation is the process by which the world is becoming progressively interconnected as a result of significantly increased trade and cultural exchange. It has also increased the production of goods and services. The biggest companies (such as McDonald’s, Starbuck’s, Costa

In this paper you will understand the shift of the development to the globalization project. In doing so you will learn what “globalization” means as a project and as a process and why it is described as being in crisis. Next you will learn about the financial and farming dimensions of the problems confronting the globalization project. With that you will thirdly learn about how global warming presents multiple challenges to globalization. I will also discuss the emergent “sustainability project”, with particular attention to agricultural, “green technology” and environmental movements. Lastly I will analyze how terrorism and the emergence of Trumpismo complicates all of this.

Another definition of globalization is suggested by Morrison (2011, p.43), that globalisation is a process by which people, products, information, money and companies can move around the world as decision-makers

Globalisation is the worldwide movement toward economic, financial, trade, and communications integration (Business dictionary) the word had hardly been used up until the 1970s. But with new technology and increased trade, the word globalisation is now considered a very important concept throughout the world, Particularly in China. Where over the last forty years it has gone from an important opponent of globalisation, a supporter of global disorder (WILLIAM H. OVERHOLT (2005) and an opponent of free trade. To one of its biggest supporters with it now already being the worlds third largest trading nation in the last forty years with Trade in goods over 60% of its GDP (Razeem, S. (2007). In many peoples view this spread of

Globalisation is considered one of the greatest milestones that have happened to the world. Before 25 years, no one imagines that s/he can buy a shirt or even a mobile cover from a different country and it will be shipped in few days. Although the term globalisation is founded in the nineteenth century, the application of this concept become obvious and widely use in the last 25 years (Dicken, 2007). The next section of this report defines globalisation term. The third section mentions some of the positive and negative impacts of globalisations. The fourth section discusses the impacts of globalisation on business operation. Finally, the last section concludes the report.

'Globalisation refers to the apparently increasing exchange of goods, raw material, information, people and money between parts of the world that have been geographically and culturally separated until now'. (The Open University, 2013, Block 4 , p13). Advancements in transportation and communication technology have created a a global market for consumers anywhere in the world. Whether it be through an internet connection at home or a superstore in the high street selling produce from groceries, clothing and electrical, people can now purchase goods from any country in the world who participate in the free market.

Globalisation can have a variety of different meanings and one that accurately summarises these is “is the integration of economies, industries, markets, cultures and policy-making around the world” (Financial Times). This integration has been viewed by many as a largely positive thing for humanity as a whole however, others have been critical of globalisation, for example, due to the growth of influence certain parts of the world have over the rest of the world. There are many discussions to be had on this, although it is critical that focus is drawn to how people in various cultures are affected by globalisation.

Globalisation is something that has been around for many years and will continue to be for many more. Globalisation is a worldwide topic, therefore there are multiple different interpretations on how it may be described, for instance some may say that globalisation is a wave of interconnectedness. For the purpose of this essay I will introduce the definition from the Oxford Dictionary as it is presented in an accurate and easily comprehended manner: “The process by which businesses or other organisations develop international influence or start operating on an international scale.” (English Oxford Living Dictionaries, 2017) From my own understanding this definition provides the idea that globalisation is basically the dynamics of business throughout various different platforms, such as The Economy. Globalisation is a very diverse subjects as there are lots of positive aspects to the effects it has but there are also many downfalls in regards to the effects that it brings. This essay will primarily focus on the effects Globalisation has had on different economies and how they are not always beneficial towards society.

Globalisation can be described as a free way of doing business with free transaction of capital and workers around the globe. It is the method by which economic boundaries are broken down among each geographic region, province or state which lets nations to trade freely and effectively between themselves with no fear of being financially penalised.

Globalisation was a word lacked from most vocabulary until 1980s when the global culture started to form. Technology advanced and the world transformed, from stretches of lands separated by water to the global community. Passer-byers on a street in a major city may see globalisation everyday, anything from billboards advertising coca-cola to an import car, has “Globalisation!” written all over it.

Globalisation has become a more commonly used word to describe how companies are operating, positioning themselves and how the world economies behave and react. Globalisation is how businesses, economies are becoming more interconnected due to the increased trade, social and cultural exchange. Globalisation has increased the production of goods and services and the largest companies are no longer national companies but multinational corporations with subsidiaries in many countries.

There are a large number of definitions for “Globalisation” which could have different meaning for different people. According to Knight (2001), it

Globalisation means the whole world is generally interconnected and MNCs are the main factors that lead to globalisation. Globalisation is a term used to refer to how technology, information and cultures have spread all over the world.

A definition of “Globalisation” would be that : “Globalisation typically refers to the process by which different economies and societies become more closely integrated3.”